Today we’re looking at July altcoins; let’s dive in. Whatever you need to do, just follow along because the ideas that I’m talking about in today’s blog in regards to our altcoins that people are really bullish on and excited about. So my views on a longer-term timeframe for the market, longer-term, I think Bitcoin is going to take the gains.
And I think these altcoins and the majority of them there are some strong ones, which we looked at in even yesterday’s blog and a couple of days ago as well. They may do or right, but I think the majority of all coins are going to bleed out in their Bitcoin value. But if you’re only looking at your Fiat your US dollar value, then you’re probably going to be okay, it’s probably going to rise because bitcoins rising anyway, however, that’s not how I play the market. So make sure you are paying attention to that as well. That’s the first thing.
The second thing is I’m looking at Bitcoin as leading the charge. So they do go hand in hand, once I’m looking at Bitcoin will lead overall I’m looking at a Bitcoin bull market. And then on the flip side, I do think alt will rise in some value, I don’t think they’re there yet. However, the market has started to slow for them that they’re bleeding out has started to slow, but I think their Bitcoin dollars will continue to bleed their dollar values, they fear values may begin to stabilize and rise a little bit and that’s what we’re gonna look at with your requests in today’s blog.
So let’s look at coin Gecko, we have $1.5 trillion dollar market cap, we have survived our 50% level so far, that was around 1.33 or 50% level is similar to how another technical analyst might use say moving averages which are around your 20 week moving average, and they look for that for being your bullish or bearish scenario. So currently, we’re still above that 50% it’s not exactly the same, but it’s a good idea just to maintain at least some sort of metrics to understand whether we are bullish, or bearish, you know, strength versus weakness in that period of time. Bitcoin doing well, we saw 36,000 today. And that was a critical level that we needed to break through and get a close above that level eath doing very well. $2,173 Katana is still holding up there by Nance doing well, everything has done pretty well on its US dollar value.
But as we flip over to Bitcoin, a lot of these things have begun to sell off a little more Eath Classic, not even worried about that one. A lot of these have fallen a little way v chain is doing okay today. And we’re also seeing a couple other majors here, say Tara and tehsils, getting a few percent against their Bitcoin value. So BTC got to start here, before we get to those cryptos. Before we get to the top three plus an extra one you guys were looking for, as I posted today, this is the 50% 35,000 I really wanted to see 36. And we got there, we got to push above, but we didn’t get a close above 36 around 35,900, which is still one of the highest closes in the last two weeks. So that’s a good sign and a very good sign for at least a short term move for Bitcoin strength to Bitcoin generally means weakness to alt BTC pairs, but the dollar pair will be alright.
Now the Bitcoin dominance has gone on a little bit of a dip over the last week. It is a downtrend at the moment, just plain and simple swing chart theory, lower highs, lower lows, medium-term, we’re still up, and I’m still looking for this 49 to sort of 52% dominance as a potential peeking out area for Bitcoin. And that might take a few weeks a few months to play out; we still don’t know yet, we still need to see this, at least try and break through this 49% level and then take it from there. But we definitely have some sort of resistance at around 51 to about 53%. Now the total market caps we look at as well because this is also playing into how we trade these altcoins moving forward. So I can just put the old coin charts on and say yeah, this looks alright, this looks bad.
But whenever you’re trading or investing, you need to have a overview of the entire market if you’re going to make an informed decision. If you just look at one thing. It’s like trying to fix a sick body. And you might have something wrong with just one muscle here maybe your bicep but it could just be the the join tt your elbow or in your shoulder, as well as causing the problem that it could be further down. So you need to get a grasp of what’s going on overall, before making the decision of throwing your hard earned money into the market.
So the total market cap has regained its 50% level, this is a good sign. So at least maybe we’re getting some short term bullish momentum throughout the market. Because, of course, most people are going to be trading long, then probably not trading short as well. total market cap, excluding Bitcoin, just getting a nudge back against this 50% level, see how subtle that is, it’s just getting a little push down, which is probably due to the previous support, possibly becoming resistance, but I think maybe short term, we might get a little push above this, maybe a fade out again, because that’s what I’m seeing on the altcoins. Speaking of which, let’s start with our first one.
So this was highly, highly requested, how many one? How many one straight downtrend, we’ve barely broken it, but the speed has decreased. So the speed I’m looking at here is so you can just measure it from a major top to a major bottom. And then if you were to copy and paste that, and then try it again, you can see that the move has started to slow on the way down. And that’s what you want to see if you’re going to get a turn, you know, the car’s fallen down the hill is basically we’re looking for it to reach the bottom of the hill and then hopefully have a little bit of a run-up with that extra momentum that’s pushed it. And we might see that on some of these old coins. And that’s why I’m looking at it in terms of potential short term trade.
At some point, the car does hit the bottom and then runs back up the other side. And so we might just see it sort of move up and hit some other resistance levels, there might be a bit of a sharp incline, and it’ll just fall away again. Or it might go a little further and hit some other resistance levels and fall away. Again, if it did make that move, I’d probably expect 50 percent on most of these to be to act as some sort of resistance before falling away again, because overall, I think Bitcoin is going to take the stage.
So how many one this this is this sort of analysis goes across all of the charts. And I’m seeing that with a lot of the altcoins, which is why I’m buying mostly Bitcoin at the moment pretty much all Bitcoin. So the speed decreased, looking good. How many one BTC. However, I don’t see any real bottom here, I still see this car falling off the cliff, we haven’t seen some sort of rolling bottom before we can start to move back up. And I’m more concerned about reducing my risk, increasing my capital, and obviously trying to make some gains here once the market is showing me that they’re ready.
And I don’t think these are ready, how many one BTC. If you only want to get some dollar value, then Bitcoin is the easier and safer play. Because if we buy these other old coins, then they’re just going to bleed out and their Bitcoin value, which means Bitcoin would have to go up for their dollar pairing to go up as well. And so I might as well just buy bitcoin, it’s just easier and less risk. So how many one BTC still on the decline, probably expect some sort of pull up, maybe at these lows, maybe at these at these previous highs as well. So you can see some highs coming in at around 100 or so satoshis.
But that doesn’t mean in the short term, few days to a few weeks, that’s kind of short term, some people will look at it in terms of hours as well, that it couldn’t just bounce from these levels and come back and retest a 50% level, which is about 40% away. But I’m not in the game just to make 40%. However, if I was trading, if I wanted to trade this, maybe, you know, maybe 40% not too bad in a bear market and only trading long. So you need some other signals on there as well, to give you an idea of an entry point. But how many one overall, I still am expecting this to bleed out and probably find some sort of level at these highs, maybe get a bounce, maybe go a little further. But these tokens generally burn out against the Bitcoin value, because Bitcoin is the first stage of the cycle to push up again.
Next is a very hot favorite we’ve covered on the channel have interviewed with the CEO as well, he comi Omi, again, you can see the chart, all of these kryptos do this, they just bleed out and bleed out and bleed out. And then when you think it’s coming, you get a little pump, and then it bleeds out again, then you get another little pump and it bleeds out again. And this is where the patience is required. Because you can see that this takes a long time, look at this first dip to where this pump came 43 days. What were you doing 43 days ago, but most people can’t even recall what they were doing a couple of days ago, let alone 43 days ago, and then having the patience to wait in a market to hopefully get this little pump and then watch it bleed out again over the next several weeks.
And though I what we want to see here is the lows getting higher. We want to see as this bleeds out, people are coming in to support the price at higher prices. And if we get that, then that’s a bullish sign. early stages doesn’t mean it can’t dip again, but it’s early stages of a bullish sign. So this pump here on Omi look like it came from the Marvel and vv collaboration to offer digital collectible experiences that came from this news. So that’s what we’re seeing at the moment sort of news pumps, and then fade offs.
Now the good news for me is it does look like the cars coming to the bottom of that hill. I think it might need a bit of a kickstart before it goes up again, because it looks like it is just sort of rolling to a standstill. But at least we’re not falling off a cliff anymore. It’s not saying there’s not another Cliff coming up. But it does look promising at the moment. And I definitely would keep an eye on this, which is why I’ve got my alerts set up here as well. So only is on my list. It’s something that I’ve covered on the channel before and a project that I do like so.
At the moment, it’s in a good little accumulation zone, it’s a much better looking chart, then harmony one where this is just sort of still looks like it’s falling off a cliff. With that said, let’s go to another chart, which looks like it has been falling off a cliff for some time, veracity. This had a lot of posts, and almost to the point that it looked kind of suspicious of how many people were posting about veracity, whether it’s been covered lightly on other channels, I don’t know. But it does look very suspicious of the amount of from the amount of posts that were in someone even pointed that out. voracity you can say it’s a very similar chart just straight down. If we use this tool here, we just measure top to bottom, copy that paste it, do it again, you can see that the move has begun to slow.
So all I have to do is just look at the angle of this movement has begun to slow. So maybe we get a little move up here to two cents, who knows maybe even 2.8 cents just to get to that 50% level that could take a few days or a few weeks. But if it’s a long term hold, then I still expect it to probably fade out after that move. I don’t, I cannot see a move from this point is going straight up and taking out the all time high. So I think personally, the way I look at these is I still have a lot of patience for these markets. I’m not rushing into anything, plus the volume is still going down, meaning there’s not a lot of interest in it. And so looking at the next levels further down for V ra is down at these levels here, just pull the bar down. And you can see it said sort of point three. So it’s a long way from where we currently are.
But even we’ve got some spikes into that, that’d be pretty cool. Obviously, we’ll just check it out at around this little level that we saw on the way up in March. So there was some pushback with some resistance and support at around point 6.7 cents, so still about 50% from where we are down. But what looks even worse is veracity. BTC. And this is still looks like it’s on a downtrend get the bars out or get the colored crayons, the colored candles, which is your default setting for a lot of people, it still doesn’t have that movement at the bottom where you just see it to sort of basing out before we can shoot up again. And the levels that I’ll be looking for next for the Bitcoin value is around these highs at about 2000 satoshis.
Or actually a lot less. And then further down 1440 and then further down again at one to one five. Okay, so yeah, it is about 10 decimal places, so scrapped the last two decimal places that just throws you way off and just use these two sets at about 11 satoshis, or 16, or at about 20. So they’re the levels that I’m looking at, we could get some bounces to break this trend. So you can see this trend just straight down, if we should get a break up, and then a flattening out again, maybe another bounce and then we dip down something like that. But the idea is that it hopefully it starts to slow for VR a but at the moment is still just getting sold off really heavily on its Bitcoin value.
Now, the token, the crypto that just popped up XRP I’m wondering why it just happened to be XRP. Anyway, XRP USD, let’s have a look very similar, again to the rest of these cryptos. You can see the strongest we looked at in yesterday’s blog compared to the weak ones. All of this stuff is much much weaker than what I looked at in yesterday’s blog. So if you’re not looking at charts like this, please learn how to do it so that you can save yourself a ton of money. This is still at some lows, no volume at the moment. It’s starting to break its downtrend again.
But as we saw earlier in the downtrend, it did break it. So the speed of the angle but then it just took off again, down, broke through the 50% sort as resistance continue down continue down, it’s going to have to try and get back past about at at 85 cents which was support which possibly will come become resistance. Hopefully that can hold but again, not much volume here. And what we’ve seen in the past is a fair bit of volume at these lows before it can take off this still even more volume here at this low before it takes off. Then we get more volume as it takes off. So I’m not of the view that it’s going to be shooting up to two bucks anytime soon, maybe a little test up at these levels and a fade-out again.
So I’ve definitely got patients XRP BTC, on the other hand, is also doing the same thing, just in the last week or so, it got smashed down to its low levels that it saw in February. So we just saw this on bitrix, it probably was for a few seconds or minutes. It’s not very liquid over there on bitrix. But this has the most data, which is why I use the bitrix chart. So again, I can’t see this coming back to give us any sort of relief just yet. But it could be a good play. If you have patience, and just track this down. As it gets towards some support and resistance levels, then that could work out to be a reasonable part of the plan to be dollar-cost averaging into a longer-term play out of these charts that I’ve had a look at only looks like the lowest risk at the moment, only because it’s so close to these current lows. But that doesn’t mean that there isn’t further downside. And XRP on the BTC Valley looks pretty reasonable, it is down at these low levels as well.
But it just has not seen any sort of bounce during this stage of the bull market, probably because of the SEC lawsuit. So if it did get a good hearing a good result from the SEC lawsuit, then this will probably take off. And being that it’s so close to these low levels, that sets it up to have a much better risk-reward. So I’d be more excited for something like XRP than I would be for one or four veracity at this stage. And now that has nothing to do with the projects themselves. It has everything to do with where these are positioned in their charts. And what history shows us a better risk-reward play to make money.
So unless you want to get married to these things, and you just hate it and you want to make some money from it, then you’d be willing to look at projects that are going to get you that money and get you those returns with low risk. So I’ll leave that blog there guys. Thank you once again for joining me. Make sure you comment down below. What are your thoughts on these old coins what other altcoins should we have covered for July? What is looking good for July. Make sure you like the blog and subscribe to the newsletter. So make sure you following I’ll catch you guys at the next blog until then have more fun to get more done.
* Above content is not a financial advice, it is our opinion only.